The National Development Bank loan of 8 billion yuan helps TCL to expand the overseas market

National Development Bank and TCL Group signed an agreement, which will be in the next 5 years for TCL multimedia, mobile communication, household appliances industry "going out" project to provide 8 billion yuan of loans.

Now is the key stage of TCL internationalization, TCL Group Chairman and CEO Li Dongsheng said that with the National Development Bank platform, will be conducive to the change of TCL financing structure, to ensure the long-term project funding requirements, stable operation, the internationalization of business and development are of great help.

The Guangdong branch of China Development Bank President Dai Danian said the CDB TCL group is an important partner in Guangdong Province, therefore, the CDB will provide a full range, in the loan portfolio and financial advisers and other aspects of high quality financial services, full support for TCL growth to have the international competitiveness of multinational enterprises.

Li Dongsheng said that although the affected and two international cooperation projects Thomson, Alcatel, the fluctuation of half the TCL group's performance this year, but the synergistic effect of these two projects will be gradually reflected, "2005, TCL overseas sales income may be flat with domestic sales".

So far this year, in just four months, TCL group and Chinese import and export bank, China Export and Credit Insurance Corp and the National Development Bank three policy financial institutions to establish strategic cooperative relations, a total of 14 billion yuan of large credit agreement and $1 billion 500 million overseas business insurance agreement, to enhance the ability of risk resistance.